State of the Economy

Election time is sneaking up on us.

The president wants to bail out banks that made bad lending decisions. If banks can't handle ordinary financial transactions why bail them out?

McCain and Obama both proposed increasing federal deposit insurance to $250,000. If the banks watch who they lend to, they wouldn't be in trouble.

It is my opinion that the high cost of petroleum is causing all of this. The price of everything goes up with the cost of hauling it. Everything is linked to petroleum cost; all mail, every package and all travel. When prices go up people require higher pay to keep up with it. This increases inflation. Everything snowballs - notice how nobody's mentioning the national debit?

The stock market dropped big time. Notice the price of oil dropping? Why? The president is talking about the state of the economy and bail out; the oil industry does not want to take the blame it deserves. Look - the price of oil went down - the good old oil companies are just helping out. Yeah, you're helping - (after you cause everything in the first place). Watch the price of oil and gas if there continues to be a big fight and headhunting over the economy. It will stay down or drop because it doesn't want to take the blame. When the economy recovers because the price is down, watch it climb back up...

No politician can afford to vote against big oil. The oil lobbies have too much money and too much support. They can put pressure on a politician in many covert ways. It's hard to stay in office if you do not comply. What can you do? You can do nothing if you are not elected. Funky justification for their actions, but realistic.